Asian ADRs Slightly Lower

American depository receipts of Asian stocks were trading 0.09% lower at 161.59 on the Bank of New York Mellon Asia ADR Index on Friday. In North Asia, the gainers were led by ecommerce company Alibaba Group (BABA), which surged 14.9%, followed by school operator Bright Scholar (BEDU), which gained 6.3%. Fabless semiconductor firm Himax Technologies (HIMX), and semiconductor services company ChipMOS (IMOS) climbed 6% and 5.9% respectively.

The decliners in North Asia were led by New Oriental Education & Technology (EDU), a provider of private educational services in China, and IT company ChinaCache (CCIH), which fell 6.8%, and 4.2% respectively. They were followed by Xunlei (XNET), a cloud-based acceleration technology company, down 4.1% and solar equipment provider SPI Energy (SPI), off 3.7%. In South Asia, the gainers were led by IT company SIFY Technologies (SIFY), and natural resources company Vedanta (VEDL), which rose 5.2% and 4.5% respectively. They were followed by pharmaceutical firm Dr. Reddy’s Laboratories (RDY), up 2.7%, and automaker Tata Motors (TTM), higher 1.6%.

By Kristin Senesi